From the six scenarios described below, indicate (giving your reasons) the business form each one is likely to take - sole trader, partnership, company or trust.
a. Sarah and Michaela wish to start an internet business, marketing cosmetics. They are concerned about the legal issues (for example, their personal liabilities) for this business once they start trading.
b. Deanhas just commenced a home maintenance business by himself, with the help of $2000 inherited from a rich aunt. He wishes to employ his wife as the bookkeeper.
c. As friends at university, John-Pierre, Janto and Nigelstudied commerce. They are now setting up a small accounting business specialising in taxation returns and investment advice.
d. Two married brothers (Edmund and Sam), who are both trained and practising plumbers, wish to combine their businesses into one so that they can share resources and take more holidays.
e. Three engineers (Kwong, Mukesh and Binh) wish to set up a prospecting business searching for gold, and they want to list their business on the Australian Securities Exchange.
f. Four members of the Tang family wish to establish an investment business, with the proviso that additional family members can be admitted as they reach the age of 18 years.